Canada Boosts Wheat Output Forecast As Crop May Surpass Record

Canada’s Milos Raonic defeats Lukas Lacko to advance to semifinals at Japan Open

Analysts in a Bloomberg survey forecast 16.4 million tons. Statistics Canada said it interviewed about 10,500 farmers from Sept. 3 to Sept. 10. The estimate excludes production in British Columbia and Canadas Atlantic provinces, which account for 2 to 4 percent of the national total, the agency said. There are record yields being reported for crops in many areas and the market will not be surprised if canola production exceeds 16 million tons, Chuck Penner, the owner of LeftField Commodity Research, said in a telephone interview from Winnipeg before the report. Its safe to say 2013 is going to be one to remember, he said. Higher Yields The average wheat yield is forecast to be a record 48.0 bushels per acre, Statistics Canada said today, up from 42.6 bushels per acre in 2012. While planting in many parts of Western Canada was delayed this spring by excess moisture and below-normal temperatures, farmers managed to sow most of their crop by mid-June, according to reports from Alberta , Manitoba and Saskatchewan, the largest grower of spring wheat. Crops progressed from good growing conditions and output is expected to be significantly higher than last year due to higher yields, Agriculture and Agri-Food Canada said in a Sept. 18 report . Spring-wheat yields in parts of the Prairies are as high as 80 bushels per acre, FarmLink Marketing Solutions said in a Sept. 27 report .

Canada has ‘lot of catching up to do’ in Asia

“What has struck me when you talk with Australians is the fact that while they are far ahead of us, they are still unsure of their role and whether they are taking the right approaches,” said Edwards, who with Hampson has been studying ways Australia and Canada can co-operate in Asia. “If we as a country are tentative about Asia, we can take some heart from the fact that Australia feels the same way.” It is a cruel irony that one of the reasons that Canada makes a fairly big deal out of the annual Asia-Pacific Economic Cooperation summit, which starts in Bali, Indonesia, on Monday, is that it is the only Asian organization of which Canada is part. While the prime ministers of Australia and New Zealand will leave Bali for nearby Brunei, where they will join Barack Obama and Vladimir Putin for the arguably more significant Far East Summit run by the Association of South East Asian Nations, Harper will fly directly home. But all is far from lost. Canadian banks and companies such as Manulife, Sun Life and Bombardier are old hands in Asia. Canada’s influence is also growing in other ways. “When I visit mainland China, Taiwan and Singapore I see more Canadians,” Evans of UBC said. “Our biggest export is teachers. There are between 20,000 and 25,000 of them in Northeast Asia … To be a player in Asia, you have to be multi-dimensional. Otherwise you end up being second tier.” Getting Canada a ticket to Asia’s most important political gatherings will be “a long, slow game,” Edwards said. “I don’t have a magic bullet except hard work and persistence.

Dodig has won two of the pair’s three matches, including a second-round victory over Raonic last June on grass at Eastbourne and a Barcelona win in 2011. A win over Dodig would mark a return for Raonic to the Tokyo final where he lost a year ago to Kei Nishikori. Raonic, ranked 11th in the world, is coming off a win at the Thailand Open on Sunday and improved his season record to 40-17. He’s trying to earn one of the last spots in the World Tour Finals in London next month. Against Lacko, Raonic never faced a break point from his 81st-ranked opponent. The loss to Raonic was Lacko’s 14th straight against a top-20 opponent. Raonic, who stands 5-0 in quarter-finals this year, has not lost a set this week. He took early control against Lacko with two breaks to earn the first set in 25 minutes. He went up a quick break in the second for a 2-0 advantage, and later closed his match with a service winner. Sports & Recreation Assisi (Italy) (AFP) – Pope Francis on Friday called for the Catholic Church and its faithful to rid themselves of earthly concerns like St Francis of Assisi during a pilgrimage to the saint’s Italian hometown. AFP SIOUX FALLS, S.D. (AP) Powerful storms crawled into the Midwest on Friday, dumping heavy snow in South Dakota, spawning a tornado in Nebraska and threatening dangerous thunderstorms from Oklahoma to Wisconsin.

Air Canada Reports September Load Factor and Updates Guidance

During the month, we successfully completed the refinancing of our 2010 notes, an important milestone in achieving our priorities as this significantly lowers our cost structure, strengthens our balance sheet and improves our credit profile. We also announced the implementation of an expanded commercial agreement with Air China, our valued Star Alliance partner, for enhanced codeshare and interline services that provide our customers seamless connections on a single itinerary for travel via our respective hubs to new destinations in China and in Canada . This year’s Ipsos Reid Business Traveller Survey released in September confirms that Canada’s frequent business travelers recognize Air Canada as their preferred airline by a growing margin – the widest margin versus our domestic competitors since 2008. This recognition by our most discerning customers reflects Air Canada’s award-winning product and our employees’ focus on taking care of our customers while transporting them safely to their destination,” concluded Mr. Rovinescu. Updated Outlook As a result of the impact of cost reduction initiatives across various expense line categories, including sales and distribution costs, food, beverage and supplies and other operating expenses, Air Canada now expects its third quarter 2013 adjusted CASM to decrease between 3.0 to 3.5 per cent when compared to the third quarter of 2012 (as opposed to the adjusted CASM decrease of 1.5 to 2.5 per cent projected in its August 7, 2013 news release). Taking into account the projected improvement in adjusted CASM for the third quarter of 2013, Air Canada now expects its full year 2013 adjusted CASM to decrease in the range of 1.5 to 2.0 per cent from the full year 2012 (as opposed to the 1.0 to 2.0 per cent decrease projected in its August 7, 2013 news release). Air Canada continues to expect its full year 2013 system and domestic ASM capacity to each increase in the range of 1.5 to 2.5 per cent when compared to the full year 2012. Air Canada expects that the Canadian dollar will trade, on average, at C$1.03 per U.S. dollar for the full year 2013 and that the price of jet fuel will average 88 cents per litre for the full year 2013. The following table summarizes Air Canada’s above-mentioned outlook: Aircraft maintenance expense Decrease $40 million All projections referred to in this news release related to EBITDAR and adjusted net income with respect to the third quarter of 2013 are preliminary, have not been reviewed by Air Canada’s auditors and are subject to change as Air Canada’s third quarter 2013 financial results are finalized. The outlook provided constitutes forward-looking statements within the meaning of applicable securities laws and is based on a number of additional assumptions and subject to a number of risks. Please see section below entitled “Caution Regarding Forward-Looking Information.” Non-GAAP Measures Below is a description of certain non-GAAP measures used by Air Canada to provide additional information on its financial and operating performance. Such measures are not recognized measures for financial statement presentation under Canadian GAAP and do not have standardized meanings and may not be comparable to similar measures presented by other public companies. Adjusted net income (loss) is used by Air Canada to assess its performance without the effects of foreign exchange, net financing expense on employee benefits, mark-to-market adjustments on derivatives and other financial instruments recorded at fair value and unusual items. EBITDAR is commonly used in the airline industry and is used by Air Canada to assess earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent, as these costs can vary significantly among airlines due to differences in the way airlines finance their aircraft and other assets. Adjusted CASM is used by Air Canada to assess the operating performance of its ongoing airline business without the effects of fuel expense, the cost of ground packages at Air Canada Vacations and unusual items, as such expenses may distort the analysis of certain business trends and render comparative analyses to other airlines less meaningful.

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